Aug 14, 2020 | by Peter DeCaprio and Charles Trafton
Executive Summary: Market participants have bemoaned stocks as levitating in a “bubble” for three years, though we’re now seeing evidence of an equity mania in selected areasAlarming parallels to the 1998-2000 timeframe, especially in the electric vehicle space, which...
Jul 13, 2020 | by Peter DeCaprio and Charles Trafton
People still think this is a frothy market. It is frothy – but in isolated pockets, which is an important distinction, and we’ll get to those examples in a moment. But let’s not forget where we once were. This is the 20th anniversary year of the Pets.com...
Jun 7, 2020 | by Peter DeCaprio and Charles Trafton
Comparisons of 2020 to prior times in U.S. history are rightfully making the rounds. Market participants are always looking for analogs. Niall Ferguson’s piece today has an interesting compare to 1968 here. And today’s WSJ has a terrific piece on a compare to the...
Jun 6, 2020 | by Peter DeCaprio and Charles Trafton
This Tweet by Bill Fleckenstein is worthy of comment because Mr. Fleckenstein is thoughtful and successful and he has earned our attention. The sentiment he expresses here is obviously not new and not just his. Indeed, our Twitter feed is swamped by almost...
Sep 9, 2019 | by Peter DeCaprio and Charles Trafton
For those of us that run asset allocation strategies, being in the right place at the right time is, obviously, everything. Indeed, a foundation of risk parity strategies is that asset class performance stays within historical bands. Divergences from historical...
Dec 26, 2018 | by Peter DeCaprio and Charles Trafton
A trusted friend noted to us the other day the market is acting like the economy ran straight into a brick wall with no skid marks. His point, while funny, is well taken. Something is amiss as the data is in serious conflict. The economic backdrop is still quite...
